In the invited article “The CFPB and Payday Lending: New Agency/Old Problem,” 48 Journal of Consumer Affairs 1 (2014), Professor Norman Silber of Hofstra Law (with Larry Kirsch of IMR Health and Robert N. Mayer of University of Utah) highlights the policy, legal and institutional issues raised during the Consumer Financial Protection Bureau’s decision-making process about how to regulate the payday loan industry.

The authors argue that “the CFPB has the opportunity to dramatically shift the longstanding consumer protection paradigm in favor of real-world protection of vulnerable borrowers and, thereby, to realize the hopes of the activists who helped to bring the Bureau into existence.”